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Hermès records sales increase for second quarter

French luxury goods group Hermès recorded an increase in sales of 17.9% for the second quarter of its trading year.

For the three months ended June 30, Hermès said that sales were €668.4m (£587.7m), up from €566.9m (£489.5m)in the same period a year ago.

Hermès, which will post its first-half results on August 31, said it expects operating profit to be up by between 4% and 5% compared to the same period last year, which includes the gain it made via the sale of its 45% stake in Jean Paul Gaultier to Spanish group Puig in May of this year, which generated accounting profits of €30m (£26.4m).

The group said the growth was driven primarily by the US and China, with a solid performance across all regions with the exception of Japan where revenues remained unchanged following the earthquake and tsunami in March.

 

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